The Long Beach Community Investment Company

CITY OF LONG BEACH WEDNESDAY, FEBRUARY 20, 2019 THE LONG BEACH 333 W. OCEAN BOULEVARD COMMUNITY INVESTMENT 3RD FLOOR CONFERENCE ROOM, 4:00 PM COMPANY MINUTES John Thomas, Chair Lindsay Mais, Director Diane Arnold, Vice Chair Sabrina Sanders, Director Russell Doyle, Director Jan Ward, Director Patrice Wong, Director FINISHED AGENDA AND DRAFT MINUTES CALL TO ORDER Chair Thomas called the meeting to order at 4:03 p.m. ROLL CALL Commissioners Jan Ward, John Thomas, Lindsay Mais, Diane L. Arnold, Russell Present: Doyle and Sabrina Sanders Commissioners Patrice Wong Absent: STAFF PRESENT: Linda F. Tatum, President; Patrick Ure, Vice President; Meggan Sorensen, Housing Development Officer; Rich Anthony, Deputy City Attorney; Alem Hagos, Grants Administration Officer; Silvia Medina, Administrative Analyst; Kjell Stava, Administrative Analyst; Andrew Chang, Administrative Analyst; Johnathan Garcia, Public Affairs Assistant; Rick Ryba, FUSE Fellow; Kate Brewer, Secretary; Monica Jaime, Secretary. MEMBERS OF THE PUBLIC: Christopher Larking, Senior Development Associate - Century Housing; Ben Kurzius, Project Associate - MRK Partners; Maya Saraf, Intern - MRK Partners. FLAG SALUTE Director Sanders led the flag salute. PRESIDENT'S REPORT Page 1 of 9 CITY OF LONG BEACH WEDNESDAY, FEBRUARY 20, 2019 THE LONG BEACH 333 W. OCEAN BOULEVARD COMMUNITY INVESTMENT 3RD FLOOR CONFERENCE ROOM, 4:00 PM COMPANY MINUTES Chair Thomas spoke. Vice President Ure spoke regarding the groundbreaking events for Vistas del Puerto, and Spark at Midtown. Chair Thomas spoke. REGULAR AGENDA 1. 19-003CI Recommendation to receive and file the minutes of the Regular Board meeting held Wednesday, October 17, 2018. Chair Thomas spoke. A motion was made by Director Mais, seconded by Vice Chair Arnold, to approve recommendation. The motion carried by the following vote: Yes: 6 - Jan Ward, John Thomas, Lindsay Mais, Diane L. Arnold, Russell Doyle and Sabrina Sanders Absent: 1 - Patrice Wong 2. 19-002CI Recommendation to elect The Long Beach Community Investment Company (LBCIC) Chair and Vice Chair. Chair Thomas spoke. Director Ward spoke. Rich Anthony, Deputy City Attorney, spoke. Director Doyle spoke. Director Sanders spoke. Rich Anthony, Deputy City Attorney, spoke. Page 2 of 9 CITY OF LONG BEACH WEDNESDAY, FEBRUARY 20, 2019 THE LONG BEACH 333 W. OCEAN BOULEVARD COMMUNITY INVESTMENT 3RD FLOOR CONFERENCE ROOM, 4:00 PM COMPANY MINUTES Chair Thomas spoke. A motion was made by Director Ward to elect John Thomas as Chair. The motion carried by the following vote: Yes: 6 - Jan Ward, John Thomas, Lindsay Mais, Diane L. Arnold, Russell Doyle and Sabrina Sanders Absent: 1 - Patrice Wong A motion was made by Director Ward to elect Diane Arnold as Vice Chair. The motion carried by the following vote: Yes: 6 - Jan Ward, John Thomas, Lindsay Mais, Diane L. Arnold, Russell Doyle and Sabrina Sanders Absent: 1 - Patrice Wong 3. 19-004CI Recommendation to receive and file the Housing Successor Annual Report Regarding the Low and Moderate Income Housing Asset Fund for Fiscal Year 2017-2018 and direct the President to post and distribute the report as required by Section 34176.1 of the California Health and Safety Code. Chair Thomas spoke. Vice President Ure spoke. Kjell Stava, Administrative Analyst, provided a staff report. Director Mais spoke. Kjell Stava, Administrative Analyst, spoke. Director Sanders spoke. Discussion ensued. A motion was made by Director Sanders, seconded by Director Ward, to approve recommendation. The motion carried by the following vote: Page 3 of 9 CITY OF LONG BEACH WEDNESDAY, FEBRUARY 20, 2019 THE LONG BEACH 333 W. OCEAN BOULEVARD COMMUNITY INVESTMENT 3RD FLOOR CONFERENCE ROOM, 4:00 PM COMPANY MINUTES Yes: 6 - Jan Ward, John Thomas, Lindsay Mais, Diane L. Arnold, Russell Doyle and Sabrina Sanders Absent: 1 - Patrice Wong 4. 19-005CI Recommendation to 1. Approve the selection of Home Ownership for Personal Empowerment (HOPE) for an award of CHDO funds in the amount of $451,676; 2. Approve a loan in the amount of $150,000 in HOME CHDO funds to HOPE for the acquisition of the property located at 4734 Sunfield Avenue; 3. Approve a loan in the amount of $150,000 in HOME CHDO funds to HOPE for the acquisition of the property located at 6127 Keynote Street; 4. Approve a loan in the amount of $151,676 in HOME CHDO funds to HOPE for the acquisition of the property located at 6711 East 9th Street; 5. Authorize the President to negotiate Affordable Housing Loan Agreements with HOPE; and, 6. Authorize the President to execute any and all documents necessary to implement the Loan Agreements and the project. Chair Thomas spoke. Vice President Ure spoke. Silvia Medina, Administrative Analyst, provided a staff report. Chair Thomas spoke. Director Doyle spoke. Discussion ensued. Page 4 of 9 CITY OF LONG BEACH WEDNESDAY, FEBRUARY 20, 2019 THE LONG BEACH 333 W. OCEAN BOULEVARD COMMUNITY INVESTMENT 3RD FLOOR CONFERENCE ROOM, 4:00 PM COMPANY MINUTES Director Ward spoke. Discussion ensued. Vice Chair Arnold spoke. Vice President Ure spoke. Director Mais spoke. Discussion ensued. Director Sanders spoke. President Ure spoke. Discussion ensued. A motion was made by Director Sanders, seconded by Vice Chair Arnold, to approve recommendation. The motion carried by the following vote: Yes: 6 - Jan Ward, John Thomas, Lindsay Mais, Diane L. Arnold, Russell Doyle and Sabrina Sanders Absent: 1 - Patrice Wong 5. 19-006CI Recommendation to 1. Approve the selection of Century Affordable Development, Inc (Century) for an award of HOME funds in the amount of $1.1 million; and, 2. Authorize the President or designee to enter into an Agreement to Negotiate Exclusively with Century for the acquisition and rehabilitation of 1117 Elm Avenue and 421 West 33rd Street. Chair Thomas spoke. Vice President Ure spoke. Silvia Medina, Administrative Analyst, provided a staff report. Page 5 of 9 CITY OF LONG BEACH WEDNESDAY, FEBRUARY 20, 2019 THE LONG BEACH 333 W. OCEAN BOULEVARD COMMUNITY INVESTMENT 3RD FLOOR CONFERENCE ROOM, 4:00 PM COMPANY MINUTES Chair Thomas spoke. Christopher Larking, Century Housing, spoke. Director Mais spoke. Chair Thomas spoke. Meggan Sorensen, Housing Development Officer, spoke. Discussion ensued. A motion was made by Director Ward, seconded by Director Sanders, to approve recommendation. The motion carried by the following vote: Yes: 6 - Jan Ward, John Thomas, Lindsay Mais, Diane L. Arnold, Russell Doyle and Sabrina Sanders Absent: 1 - Patrice Wong 6. 19-007CI Recommendation to 1. Approve the selection of MRK Partners Inc (MRK) for an award of HOME funds in the amount of $750,000; and, 2. Authorize the President or designee to enter into an Agreement to Negotiate Exclusively with MRK for the acquisition and rehabilitation of 3799 East Willow Street. Chair Thomas spoke. Vice President Ure spoke. Silvia Medina, Administrative Analyst, provided a staff report. Chair Thomas spoke. Ben Kurzius, MRK Partners, spoke. Chair Thomas spoke. Page 6 of 9 CITY OF LONG BEACH WEDNESDAY, FEBRUARY 20, 2019 THE LONG BEACH 333 W. OCEAN BOULEVARD COMMUNITY INVESTMENT 3RD FLOOR CONFERENCE ROOM, 4:00 PM COMPANY MINUTES Director Doyle spoke. Discussion ensued. Director Mais spoke. Discussion ensued. A motion was made by Director Ward, seconded by Director Sanders, to approve recommendation. The motion carried by the following vote: Yes: 6 - Jan Ward, John Thomas, Lindsay Mais, Diane L. Arnold, Russell Doyle and Sabrina Sanders Absent: 1 - Patrice Wong 7. 19-008CI Recommendation to 1. Approve the selection of Bride Housing Corporation (Bridge) for an award of HOME funds in the amount of $4 Million; and, 2. Authorize the President or designee to enter into an Agreement to Negotiate Exclusively with Bridge for the new construction of affordable housing rental units. Chair Thomas spoke. Vice President Ure spoke. Meggan Sorensen, Housing Development Officer, provided a staff report. Chair Thomas spoke. Director Ward spoke. Discussion ensued. Vice Chair Arnold spoke. Discussion ensued. Page 7 of 9 CITY OF LONG BEACH WEDNESDAY, FEBRUARY 20, 2019 THE LONG BEACH 333 W. OCEAN BOULEVARD COMMUNITY INVESTMENT 3RD FLOOR CONFERENCE ROOM, 4:00 PM COMPANY MINUTES Director Mais spoke. Discussion ensued. President Tatum spoke. Discussion ensued. Alem Hagos, Grants Administration Officer, spoke. Discussion ensued. A motion was made by Director Ward, seconded by Vice Chair Arnold, to approve recommendation. The motion carried by the following vote: Yes: 6 - Jan Ward, John Thomas, Lindsay Mais, Diane L. Arnold, Russell Doyle and Sabrina Sanders Absent: 1 - Patrice Wong PUBLIC PARTICIPATION: Members of the public are invited to address the Board on items of interest to the public within the Agency Board jurisdiction. Each speaker will be limited to two minutes unless that time is extended by the Chair. NEW BUSINESS Chair Thomas spoke. President Tatum spoke. Chair Thomas spoke. Director Mais spoke. President Tatum spoke. Alem Hagos, Grants Administration Officer, spoke. Discussion ensued. Page 8 of 9 CITY OF LONG BEACH WEDNESDAY, FEBRUARY 20, 2019 THE LONG BEACH 333 W. OCEAN BOULEVARD COMMUNITY INVESTMENT 3RD FLOOR CONFERENCE ROOM, 4:00 PM COMPANY MINUTES Director Sanders spoke. Discussion ensued. Vice President Ure spoke. Meggan Sorensen, Housing Development Officer, spoke. Discussion ensued. Director Doyle spoke. Discussion ensued. Director Ward spoke. Chair Thomas spoke. ADJOURNMENT Chair Thomas adjourned the meeting at 5:00 p.m. Respectfully submitted, Respectfully submitted, ____________________ ____________________ Linda F. Tatum, President John Thomas, Chair Page 9 of 9